News Snapshot:
HONG KONG (Reuters) – Hong Kong’s Exchange Fund, which is used to back the Hong Kong dollar, posted an investment loss of HK$13.2 billion ($1.70 billion) in the third quarter, the first loss after five consecutive quarters of gains, the Hong Kong Monetary Authority (HKMA) said on Monday. That compared with an HK$81.2 billion investment gain in the same period a year earlier. The Exchange Fund recorded an investment income of HK$126.5 billion in January-September period this year. The HKMA is the key manager of the Exchange Fund, which is under the control of the financial secretary and invests in...
